Political predictability of the state is more dangerous for transnational corporations rather than corruption and investment climate, said Armenian Prime Minister Tigran Sargsyan.

Investment climate is first of all necessary for business entities, as well as small and medium businesses, he said speaking at “Spotlight on Russia” meeting held within the framework of World Economic Forum on Europe and Central Asia in Vienna.

“There can be no middle class without development of small and medium business. In its turn civil society can not be formed without middles class. It is necessary to create civil society. And it turns out that promotion of small and medium-sized business can create potential for fighting corruption,” he said.

Premier Sargsyan noted that the authorities must have political will to fight corruption.

According to him, many of the processes ongoing in Russia influence the processes in Armenia. This is due to the fact that both countries operate in a single economic space, while way of thinking and cultural environment is much alike.